Dogecoin Community Donating Millions of Bitcoins to Victims of Christmas Day Hack

Posted: November 17, 2017

Dogecoin Community Donating Millions of Bitcoins to Victims of Christmas Day Hack

After the massive Dogecoin Christmas day hack members of the odd-ball virtual currency with a Shiba Inu dog mascot have rallied around the members that were hacked and have decided to raise 30 million coins for the victims. The value of the coins is estimated to be worth over $13,000, which will fully compensate for the hack.

“In order to reach the moon we have to take care of each other and keep the spirit of community and faith in each other and the services that help spread the love of dogecoin,” writes Ben Doernberg, one of the eight members of the Dogecoin subreddit who started the fundraising effort. “Thus, we are launching an effort to reimburse as many shibes as possible who lost their savings in the hacks.”

While the effort is far from its goal, over 4 million Dogecoins have been raised so far and a fund has been setup for people to send money too if you are not mining.

If you have not heard of Dogecoin it was created by programmer and former IBM engineer Billy Markus of Portland, Oregon, who was originally trying to tinker with an existing cryptocurrency of Markus’ called “Bells” based on Nintendo’s Animal Crossing, in hopes of reaching a broader demographic than the investors who made up Bitcoin’s economy and something that wouldn’t be involved with the controversial history behind Bitcoin (namely its association with the Silk Road).